Improvements in U.S. wages and Americans’ perceptions of China could give Trump more leeway on trade

The U.S. labor market’s post-2008 malaise is finally easing. For investors nervously eyeing President Donald Trump’s first meeting with his Chinese counterpart Xi Jinping this Thursday, that should be some comfort.

Two themes frequently recurred during Mr. Trump’s unpredictable presidential campaign: the negative effects of free trade on American incomes and jobs, and China’s allegedly unfair trade practices. But an interesting thing has happened since Mr. Trump’s surprise election: U.S. wage growth has finally started...